Meredith downgraded to Neutral from Buy at Citi

Wells Fargo analyst Eric Katz notes that Meredith (MDP) and Time Inc. (TIME) finally came to terms on a deal, with the former acquiring the latter for $18.50/share in cash. The analyst believes the combination should yield substantial cost synergies.

11/27/17

WELS

11/27/17UPGRADEWELSOutperform

Meredith upgraded to Outperform from Market Perform at Wells Fargo

11/27/17

WELS

11/27/17UPGRADEWELSOutperform

Wells Fargo upgrades Meredith with Street-high target after Time deal

Wells Fargo Securities analyst Eric Katz upgraded Meredith (MDP) to Outperform from Market Perform and raised his price target for the shares to $76 from $54. The media company in midday trading is up 9%, or $5.75, to $6.75. The analyst sees the Time Inc. (TIME) acquisition yielding "substantial" cost synergies that will fall to EBITDA. His new price target is the high among sell-side analysts, according to data compiled by Bloomberg.

11/28/17

JEFF

11/28/17UPGRADETarget $80JEFFBuy

Meredith upgraded to Buy from Hold at Jefferies

Jefferies analyst John Janedis upgraded Meredith (MDP) to Buy and raised his price target for the shares to $80 from $56. The analyst believes the acquisition of Time Inc. (TIME) is highly accretive and creates "compelling" value. He believes the market, over time, will give Meredith credit for an improved long-term trajectory.

AT&T Mobility has reached a tentative agreement with the Communications Workers of America in Mobility Orange contract negotiations. The four-year agreement, which will be submitted to the union's membership for a ratification vote in coming days, covers about 20,000 employees in 36 states and the District of Columbia - AT&T's Mobility Orange unit, which encompasses CWA Districts 1, 2-13, 4, 7 and 9.

Pfizer announced that the United States FDA has approved IXIFI, a chimeric human-murine monoclonal antibody against tumor necrosis factor, as a biosimilar to Remicade for all eligible indications of the reference product. The FDA has approved IXIFI as a treatment for patients with rheumatoid arthritis, Crohn's disease, pediatric Crohn's disease, ulcerative colitis, ankylosing spondylitis, psoriatic arthritis, and plaque psoriasis.

Western Alliance Bancorporation announced that during the first quarter of 2018 Robert Sarver will transition from Chairman and CEO to Executive Chairman. In conjunction with Sarver's change in role, Ken Vecchione will be promoted to Chief Executive Officer, Dale Gibbons to Vice Chairman and Chief Financial Officer, and James Haught to President and Chief Operating Officer, all effective April 1, 2018.

Aqua America announced that President and CEO Christopher H. Franklin has been elected chairman of the board, effective Jan. 1, 2018. Franklin became CEO in July 2015 and has served on the board of directors since October 2015. He succeeds Nicholas DeBenedictis, former CEO, who will continue to serve on the board as chairman emeritus.